The Facts: Colts owner Jim Irsay announced this afternoon that the team is releasing Harrison. Irsay made the announcement during a 5:30 p.m. news conference today.

Diehards Line:Harrison refused to take a pay cut and the Colts couldn't afford to keep him without one. And after the two sides couldn't agree on a restructured contract, Harrison asked the Colts to release him. Irsay scheduled a meeting with Harrison this afternoon, but the owner's last-ditch effort wasn't successful. As reported on this site Monday, Harrison will look for work elsewhere and some have speculated that he would like to play with his hometown Eagles and former college teammate Donovan McNabb.